What Is The Average Cost To Renovate A House in Australia?

Overview

• The Average Cost To Renovate A House In Australia
• How To Create A Budget For Your Renovations

In Australia, the average cost to renovate your entire house ranges between $20,000 (for a small unit) to $500,000 (for very large homes). This pricing drastically varies because of:

• The square meterage of your home: the bigger your home, the more it will cost)
• The quality of materials: paint, tiles, insulation, drywall, gyprock, cornices, new appliances, and skirting boards.
• The scope of your renovation: changing tiles, painting the walls, or a full knockdown renovation.
• Paying a professional vs DIY renovations: Cost of labour and materials. 
• New Appliances vs Reusing the same appliances: The cost of new appliances rather than reusing them.

If you are in the middle of your renovation and are just short of enough funds, an emergency loan can get you quick cash to help you put the finishing touches on your project.

Creating a budget is essential for managing your renovation costs, helping you plan how much to allocate for each room and track your expenses throughout the project. Below, we’ve outlined the expected costs for each room to give you a clearer idea of what to budget for.

Renovating Budgets Room-By-Room

Average Cost of Renovating A Lounge Room

The lounge room is the communal space in the house where memories are shared and visitors are usually entertained. Upkeep or modernising this space is important to make your guests feel more comfortable. A cash loan can help top up your renovation funds to make sure you get your lounge room exactly how you envisioned it.

The average cost of renovating a lounge room can range between $7,000-$15,000.  These costs include: 

• A new television
• Painting the walls
• New furniture such as couches, TV cabinetry or coffee tables.
• Replacing the floors
• Decorations
• Removing walls to make it open-plan
• Adding more powerpoints or aerial points
• Installing floating shelves or cabinetry on the wall
• New curtains or installing roller shutters

Average Cost of Renovating A Bedroom

The bedroom is where most people spend the most amount of time in their homes. It is your safe place in the house where you rest each night. Renovating your bedroom can be an important way to add value to your home if you are looking to sell, or upgrade with a perfect walk-in robe and ensuite to make your bedroom feel premium.

To help you with the costs of renovating your bedroom, an instant loan can provide you with $5,000 straight away. This helps you fund your renovation if you are falling just short.

The cost of renovating a bedroom is between $15,000-$30,000. There are many different upgrades and changes that you can do to renovate your bedroom, such as: 

• Knocking down walls to build an ensuite and walk-in robe
• Built-in cabinetry and a make-up station
• Add a double shower
• Add a his and her double sink.
• Upgrade the toilet
• Change the flooring
• Add new lighting
• Purchase a new TV
• Replace side tables and dressers
• Add a ceiling fan
• Install roller blinds

Average Cost of Renovating A Bathroom

In most homes, there is usually an ensuite in the master bedroom and a guest bathroom. Renovating this space can help make visitors feel more comfortable, and if they stay the night, it acts as their private bathroom.

The difference in budget for renovating a bathroom varies between $1,000-$35,000, which changes depending on whether you are renovating both the ensuite and main bathroom, or just the guest bathroom.

Some bathroom renovation costs include:

• Adding a double basin
• Upgrading the toilets
• Adding floor-to-ceiling tiles
• Changing the shower to a double shower
• Replacing the light and exhaust fan system
• Adding new mirrors with LED lights
• Knock down walls to convert the space into a 3-way bathroom
• Replace the bath with a free-standing premium bath

Average Cost of Renovating A Kitchen

A kitchen renovation is one of the most significant expenses, typically ranging from $20,000 to $50,000. As the heart of the home, the kitchen is where meals are prepared and families come together to share their day. Don’t settle for less than your perfect kitchen because of budget. A fast loan can give you funds, which means you can purchase premium appliances and make your dream kitchen a reality.

When renovating, some renovations to consider include:

• Creating a walk-in pantry
• Adding a window feature in your kitchen
• New appliances like a fridge, freezer, oven, stove top, and dishwasher.
• Adding a dual sink and stone benchtops
• Replacing the flooring
• Building floating cabinetry 
• Replacing the lighting with downlights
• Creating an open living area connecting the kitchen and living room
• Modifying plumbing
• Adding a kitchen island and breakfast bar

Average Cost of Backyard Improvements

Finishing off your renovations with some well-needed landscaping or backyard improvements is important to ensure the inside and outside of your home is modern and appealing.

The average cost of renovating your backyard is between $12,500-$44,500. To help you fund your DIY backyard renovation, an online loan provides you with additional money fast.

Here are some of the tasks that you can do to renovate your backyard:

• Build an outdoor pergola or alfresco area
• Removing old trees
• Building a pool
• Building a shed
• Add a deck and outdoor kitchen
• Repaint the house
• Create garden beds or vegetable gardens
• Plant new trees
• Build an outdoor granny flat or activities room
• Add a firepit

Get Help Funding Your Renovation Project With Red Tree Finance

Home renovations should be a fun experience that adds value to your home. Budget effectively and plan out your home renovation within your affordability, and if you fall just short of your budget, the team at Red Tree Finance can help! We offer same-day loans up to $5,000 that make sure you don’t miss out. For any more information or any enquiries, feel free to reach out and contact our expert team today.

How much does the average renovation cost in Australia?

The average home renovation costs between $20,000-$500,000 and an estimated $1,500-$3,500 per square meter of your home. If you want to change the physical structure of the home or add rooms to your house, then the costs are significantly higher. 

What is the most expensive thing when renovating a house?

The most expensive home renovations that add the most value to your house are a bathroom renovation. Bathroom renovations are expensive because of the amount of high-quality materials required and the labour costs of hiring an electrician, plumber, tilers, and carpenters. 

How much does a full kitchen renovation cost in Australia?

In Australia, a full kitchen renovation costs between $20,000 and $50,000. These costs depend on the size of your kitchen, what you want to add, the quality of material you use and the new appliances you add. A breakdown of the costs includes:

• Creating a walk-in pantry
• Adding a window feature in your kitchen
• New appliances like a fridge, freezer, oven, coffee machine and dishwasher.
• Adding a dual sink
• Replacing the flooring
• Building floating cabinetry
• Replacing the lighting with downlights
• Creating an open living area connecting the kitchen and living room
• Modifying plumbing
• Adding a kitchen island and breakfast bar

The information provided in this blog is of a general nature and is provided without considering your specific objectives, financial situation, or needs. It is intended for informational purposes only and should not be relied upon as financial, investment, or other professional advice.

Before making any financial decisions or taking action based on the information presented, you are strongly encouraged to assess its appropriateness in light of your individual circumstances. Red Tree Finance does not intend to provide personalised financial advice, and you should seek independent financial, legal, tax, and other relevant advice tailored to your unique situation.